TheBanker
Long

USDCAD Market Analysis and Trading Tips 5th July 2016

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
SUMMARY:
The USDCAD             pair bounced slightly during the course of the day on Monday, using the 1.2830 level as support. At this point in time, the market is looking bullish . The primary trend of USDCAD             is bearish on charts and price is trading below its Resistance trend line in its 1 hourly chart. In its daily chart the price is sustaining above 50 day SMA that are appears on the above image indicating uptrend of the pair. It is having an important resistance at the level of 1.2891 Support at the level of 1.2866. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

INDICATORS:-
MACD is sustaining in its positive territory indicating the bullish trend in the pair.
RSI is sustaining in its buying zone indicating the upcoming positive trend in the pair.

STRATEGY:
USDCAD             is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.



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Comment: Hope we're all enjoying this
Trade closed: target reached
Great chart, thanks for sharing and good luck
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awesomeness !
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almost to the finishline :)
+1 Reply
TheBanker laurentg
Got there :)
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Definitely!
+1 Reply
TheBanker dead2live
:)
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